World Investment Report 2024

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Why in News?

The UN Conference on Trade and Development (UNCTAD) recently published the World Investment Report 2024.

Key Findings:

 

• Global foreign direct investment (FDI) experienced a 2% decrease, amounting to $1.3 trillion in 2023, attributed to an economic slowdown and escalating geopolitical tensions.
• Europe's FDI flows saw a significant increase, shifting from a negative $106 billion in 2022 to a positive $16 billion, driven by volatility in conduit economies. In contrast, FDI decreased by 3% in Africa, 8% in Asia, and 1% in Latin America and the Caribbean.
• Investment in critical minerals nearly doubled, while sectors such as infrastructure and the digital economy saw reduced investments.
• International investment in sectors crucial for the Sustainable Development Goals (SDGs) in developing countries declined in 2023.
• The sustainable finance market continues to expand, but signs of a slowdown are evident, with greenwashing emerging as the most significant challenge.

Innovative Light Up-Conversion Device

Why In News?

The Indian Institute of Science (IISc) has achieved a significant breakthrough by developing a device that converts infrared light into visible light.

Potential Impact:

 

• This innovation could revolutionize various fields, especially defence and optical communications.

The Science Behind the Innovation:

• The human eye can only perceive light within the visible spectrum, with red light at the lowest frequency visible to us.
• Infrared light, with an even lower frequency, is invisible to the human eye.
• The new device developed by IISc can up-convert short infrared light frequencies, making them visible to the human eye, thus transforming invisible light into visible light.

Technical Details:

• The IISc team utilized a 2D material to create a "non-linear optical mirror stack" for up-conversion and wide-field imaging.
• The design comprises layers of gallium selenide on top, silicon dioxide in the middle, and a gold reflective surface at the bottom.
• Traditional infrared imaging methods rely on bulky, inefficient sensors with exotic semiconductors or micro-bolometer arrays, which detect heat or absorption signatures and often face export restrictions.
• The IISc device offers a more efficient and domestically produced alternative.

Technical Process:

• An input infrared signal and a pump beam are directed onto the mirror stack.
• The nonlinear optical properties of the stack material cause frequency mixing, resulting in an output beam with an increased (up-converted) frequency.

The 50% Reservation Ceiling

Why in News?

The Patna High Court recently overturned Bihar government notifications that had increased reservations in government jobs and educational institutions from 50% to 65%.

Debate on the 50% Limit:

• Critics' Viewpoint: Critics argue that the 50% reservation cap is arbitrary and restricts the state's ability to address social inequalities effectively.
• Proponents' Viewpoint: Supporters believe that exceeding the 50% limit could undermine the principle of equality, as reservations are meant to be exceptions to the general rule of merit-based selection.

Indra Sawhney Case (1992)

 

• Origin of the 50% Limit: The concept of a 50% cap on reservations originated from the landmark Supreme Court case of Indra Sawhney v. Union of India in 1992.

 

• Basis for Reservations: The court held that social and educational backwardness would be the criteria for qualifying for reservations.

 

• Reiteration of the Limit: The court reiterated a previously established 50% limit on the combined total of all reservations for different communities. This limit could only be breached under “exceptional circumstances.”

 

• Current Challenge: The 50% limit itself is currently under challenge before the Supreme Court.

EWS Quota Exception

 

• Supreme Court's Decision (2022): The 10% quota for the Economically Weaker Section (EWS) was upheld by the Supreme Court in 2022.

 

• Reasoning: The court reasoned that the EWS quota operated outside the “backwardness” framework and therefore did not fall under the 50% limit.

 

• Implications: This decision has raised questions about whether the court might revisit the Indra Sawhney ruling entirely.

Tamil Nadu's Reservation Law

 

• 76th Constitutional Amendment (1994): The Tamil Nadu reservation law, which exceeds the 50% limit, was placed in the Ninth Schedule of the Constitution through the 76th Constitutional Amendment.

 

• Judicial Review Shield: This placement effectively shields the law from judicial review.